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20121027
20121104
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in new jersey with governor chris christie touring some of the hardest hit areas of the state. is this brigantine, nng? this is certainly new jersey and we want to show you some of the other pictures if we can and take you back to the president and governor christie to get their statements as they spent the day today touring some of the worst and hardest hit areas of jersey. as we wrap up an ugly month meanwhile for wall street, the dow jones industrial average is down better than 3% on the month with the other major indices not faring much better. mandy drury is here with the october losers and a couple winners as well. >> absolutely. here are some great stats dug up by our cnbc crack data team. all three indices are breaking their four-month winning streak, as for the nasdaq 100, quite a lot of ugliness there on track for its worst october since 2008. it was october 2008 when it fell 16%. as for tech and telecom two of the worst performing sector this is month down more than 4%. apple for one is down over 10% for this month, and that is its largest monthly percentage drop ma
everyone knows what governor christie was talking about when he said yesterday this is some of the worst damage he has ever seen. he also said that fema will play a very strong role in the cleanup and recovery and rebuilding of this region. 83 miles long. most of it affected by this storm in a very, very big way. of course, that is part of the genesis of the meeting with the president today. the plane is now landing, i am told the president had just moments ago stopped by the fema headquarters before coming up here. and now we are told that he has landed in atlantic city. tyler, we'll be watching this meeting. we'll tell you the latest as we have it but for now, back over to you in the studio. >> kayla, thanks very much. as you just saw, air force one touching down at the atlantic city regional airport there. he's going to get aboard one of those two helicopters, along with governor chris christie of new jersey, and first do a helicopter tour of some of the devastation in the atlantic city area and up and down the jersey shorelines. then he will get out and go on foot in to some of the a
or destroyed. president obama got a firsthand look with governor chris christie yesterday afternoon. >> and danielle lee joins us, she's in the town of toms river. and we know this is one of the hartest hit areas. with you tell us how extensive the damage is? >> all of those popular summertime vacation communities are cut off from society. and there are stand reminders, bits of people's lives ripped to shreds. people here beginning a third day without power. millions of people throughout the state have no power. they are really getting ready to get back to life as normal. many walking around just wanting to get over to the jersey shore, those that have being a straighted, straigh to see what was left. and they can't do it possibly for a couple days because of the safety issue. just yesterday we got to see the streets filled with sand and the homes ripped from the foundat n foundations as emergency crews went door to door to get everyone out. now they're focused on the restoration, making those communities safe so they can begin letting people to get back to their homes to see what
and definitions. we've got governors of three states, christie, malloy, cuomo, those three states are talking about a new shoreline and maybe a new normal. maybe we need our folks at the weather channel to tell us, is this a 200-year storm or the start of 200 years worth of storms like this. >> is there a spirit of rebuilding here? do you hear frit the locals? have you been talking to some of the people there? do they want to roll up their sleeves, hard, painful, emotional as it is and rebuild? >> well, larry, i can only quote a fellow local, and that's chris christie, a governor who if you do what i do and still take your family to the boardwalk on weekends and seaside, point pleasant, it's a very good chance you'll see the governor of your state with his family as his parents took them there, because it's special to us, and he was saying he can't speak for all the privately owned places like this, a lot of the jersey shore, a lot of the boardwalks are a private concern. but boy, he wants to come back. this is part of the beating heart, the economic engine of the state of new jersey on down
and mitt romney supporter chris christie setting politics aside because of sandy. how will the superstorm impact the presidential election just one week away? i'll speak with pennsylvania governor ed remember dell on the back half of this show. don't miss it. ♪ [ male announcer ] the way it moves. the way it cleans. everything about the oral-b power brush is simply revolutionary. oral-b power brushes oscillate, rotate and even pulsate to gently loosen and break up that sticky plaque with more brush movements than manual brushes and even up to 50% more than leading sonic technology brushes for a superior clean. oral-b power brushes. go to oralb.com for the latest offers. oral-b power brushes. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. >>> welcome back to our special coverage. the nor
initially. let's look at governor christie's comments. depending so much on how fast the money gets back into the system and there's rebuilding. having lived in new york, you realize that the winter is coming. there's a huge inventive for people to start getting these things fixed right away. so that money will be put to work. so $30 billion is still our best estimate. at this point in time, depends on how quickly the money is put back into place. but having lived in this area, you probably appreciate the fact that actually a lot of improvements will happen now with better infrastructure, especially on the public sector level, so we actually could see an addition to economic growth in the first quarter greater than the loss in the fourth quarter. >> this is an important point, because as people try to sort out the impact, we've seen estimates from your firm that this could take two tenths out of fourth quarter gdp. whether we'll actually give a fourth quarter boost. i just wonder -- i know the situation aren't directly comparable, but in japan, we failed to really see the economy benefit
for the past two days. president obama will be looking at the devastation with dpgoverr chris christy in new jersey. let's get to todd gross tonight who is tracking the storm over the new york east. >> reporter: you may not believe this. sandy won't quit. if you look right here, there is a new belt of showers and thunderstorms that have formed. gusty storms that are affecting that wart of the country. even the north eastern united states on the coast line is in part of the storm. right in through chicago coming in through the great lakes that is where the winds are funneling in from the north. same winds edge of the storm that moved in on the coast line. that is number two. and three of course, we have a lot of air play in through here. let's zero in on west virginia. it is not only snowing there, they have had over two feet around 30 inches of snow. if you look at the video, from west virginia and from the western pan hand handle of mary they have had not only 30 inches of snow, but another foot that is going to come in the next 24 hours. even though the really big punch from sandy is over,
a stir at the time. back to you. >>> coming up, chris christie touring the carnage. millions still without power. mass transit trying to get back to line. we'll get a progress report. >>> this morning not a lot of movement. yesterday the sale. things orderly in the first day of trading since everything was shut down because of sandy. this morning futures down by about two points. nasdaq up by about 2 1/4 points. >>> jfk and newark airports both operational on wednesday, but saw very few flights. jpk is seeing more arrivals than departures, but net back to normal. courtney reagan is at laguardia this morning. >> reporter: good morning. so we haven't yet seen a plane take off here. the first plane is scheduled to take off in about 40 minutes from now. i've been here for over an hour and i got to say, i have never seen laguardia so quiet. i think there are more employees here than passengers. and i went counter to counter and american airlines basically said when i asked how many flights were scheduled to take off, it is very, very limited. he said it will keep changing all day long.
of sandy's landfall. chris christie noting that a lot of these people are unaccounted for. may be too late to get them until morning. 250,000 people without power here so it's going to be a long night if you're on one of the barrier islands. >> just lost her shot there. >> be safe. haurricane sandy is forcing several major oil refineries to shut tight and you know what that does to gas prices. mary thompson is live from baltimore. >> reporter: hey, bill, you know, brian schactman on live and sandy is south, of course, of the storm system, the storm north, and that's where the refineries in the northeast are located. now, in the wake of today's storm, and, of course, pending what happens tomorrow, a couple of refineries and some pipelines have shut down. let's give you the rundown. the linden refinery in new jersey or the phillips 66 shutting down completely along with the hess refinery. we have three others that are running at lower run raise, basically operating at very minimal levels, but they can get up and running again once the storm has passed. there's one refinery that was recently
christie has been superb. he will continue to move assets here. trucks were going to drive across the country to help in thork ci new york city. instead the president sent huge air force planes and brought them here. this is going to take some days, some weeks to straighten out. people have a good sense this guy is in charge. who would have thought that the october surprise would turn out to be chris christie who keynoted the republican convention, looked at what the president was doing, said he was incredible. if you saw it today, they asked are you still in contact with the president? he said, i'm talking with the fema guys all the time, they're doing everything they want. >> i think that's right. i acknowledge that on the show, bob shrum. i want to go to my friend, ed rogers. >> hey. >> that's when obama was on the beat. first he was in the white house in the oval office. then he traveled. then he walked with chris christie. okay. he was doing his job. now he's back on the campaign trail. i point i'm making, ed rogers, is this. the aftermath, you know, sandy is officially over.
the damage today with governor christie, and coming in this morning, i heard -- i was listening to the radio and i heard a bunch of sounds from christie. >> he had gone to the shore yesterday. >> giving people hugs. the boardwalk is gone in a lot of places. we showed some amusement rides. kayla has spent two days in cape may. she's moved north to atlantic city where the damage is also extensive. hey, kayla. >> hey, joe. the president is scheduled to visit atlantic city here alongside governor christie. we'll be taking that live as it occurs. the brunt of the storm was born by the jersey shore. the entire state of new jersey still reeling. two million residents without power. and governor christie calling the damage incalculable. that's the job of officials as they start figuring out how to start repairing the damage that has occurred. some experts around the industry have tried to start putting a number on this. a disaster modelling agency forecast losses between ten and 20 billion dollars. a former economist with the international trade commission scored that much higher with losses up to $
easier because new jersey governor chris christie signed a waiver allowing this to happen. nevertheless, the crucial element here remains power. if you get power, you can get the gas stations up and running again and the terminals up and running again as well. that's what we're waiting for. guys, back to you. >> it's a crazy situation. kind of a daisy chain waiting to be solved. mary, thank you. let's get some insight on the crazy gas situation. >> yeah, joining us now from tulsa, oklahoma, is randy fouch, ceo of radar petroleum. >> good afternoon. thanks for invitining us. >> what a situation we find ourselves in. how is the storm affecting oil and gas from your stand point? >> first off, our thoughts and prayers for all the people really impacted by this. but this isn't really a gasoline problem. nor is it particularly a refinery problem as we've heard. it's an electricity problem and the damage to the local electrical supply. it's a terminal problem. the refineries have storage. some of them are back up. it's that last road from the terminal to the gas station and the gas station bei
jersey governor chris christie made some very, very dire assessments to what he expects the damage will be in atlantic city and on the jersey shore. take a listen. >> i think what we'll find, unfortunately, when we get to the jersey shore today is total devastation. and that's the real concern. because not only is it people's homes and private property but also you have the tourism industry in new jersey which is one of our biggest industries. we're going to have to work hard to make sure we're ready for next summer at the jersey shore. >> reporter: now, of course, the casino industry the biggest industry in atlantic city. those 12 flagship casinos have been closed throughout the week. they cost about $50 million in lost revenue during irene and the expectation was that because the season was a little bit softer, maybe it wouldn't be as bad. now it's clear that even though as christie called it the damage is incalculable right now it will be much steeper than irene. hopefully we'll get more from christie later. a few other buzz words, search and rescue teams went out at 5:30 trying
there is atlantic city in real life. you realize that chris christie had what we were looking for on google maps. suddenly you realize, holy cow. this is katrina-like. loss of life, no. but property. where did it go? >> the mayor is going to ring the opening bell here this morning. the president apparently reportedly this morning wanted to visit manhattan. bloomberg said i can't spare the cops right now. he's going to instead visit the jersey shore with governor christie. that's the level we're at where we're not able to receive the sitting president of the united states. it says a lot. >> seaside heights, jersey shore show, very hard hit for those mtv officials. >> the jersey shore of my youth is gone. amazing pictures. >> the sand in the middle of -- we don't know anything because if you look at long beach island, there's sand everywhere. you can't get to it to figure out how much money and property. it's property. >> true enough. back to the exchange, bob pisani has been on the case all morning long regarding how we're going to trade today here at nyse. good morning, bob. >> good morning. i'm
by both the president and governor christie. i think we saw the very best of president obama, not only leading, but leading with a deep sense of humanity. as a lifelong drremocrat, it wouldn't surprise anyone i'm voting and supporting the president. >> okay. so has it been his leadership over sandy that changed your mind? or were you always in favor of the president? >> no, no. the president always had my vote. what i wanted from the president was an ability to work closely with the republican congress to be able to get things done. i think he has shown significant leadership, the kind of stewardship of the economy in the country and world affairs he deserves to be re-elected. as a lifelong democrat, it doesn't surprise anyone i'm supporting and voting for the president. >> let's talk about hurricane sandy for a minute. can you give us an update out this hurricane has impacted your operation and the supply changes in the area? you look at shops and restaurants in the u.s. a lot of them are closed still. >> well, first off, as a lifelong new yorker and my family is still in new york, i
was incredibly desire and last night governor chris christie made harsh words about those who chose not to evacuate. and saying the mayor had gone rogue and heeded people that can't need to heed. christie saying if you were stranded in atlantic city, you had to wait until daylight to be rescued. they just could not send emergency responders. and you can tell by the fact that even two dozen people who were at shelters had to be evacuated from the shelters because the flooding and the situation there got so bad. now of course overall, we'll have to wait until daylight for the damage lear to be assessed. we have high tide in just a few more hours which could possess more flooding risk, but people think the swors ovworst is over. >> we're glad you're still safe there. 8:37 is high tide and that is expected to bring more concerns about flooding. we'll check back in with her later this morning. the new york stock exchange and nasdaq will both be completely shut down for a second day in a row. the bond markets are closed today, as well. futures are continuing to trade. those prices will be
republican governor chris christie could produce what could be the biggest public works project in a generation, to meet and entrust that national emergency. remember when president obama was elected, he said he'd put a lot of people to work in shovel-ready job. turned out there weren't that many jobs that were ready in. the wake of sandy, i don't think there are enough shovels ready for up and down the jersey and new york coast. these jobs will be created. this destruction, estimated between $30 billion and $50 billion. i think it's going to exceed that. maybe at least get to the high end. will finally move the employment need until this country. now, when we look at industries that have been hardest hit since the great recession, the one that stands out the most is the construction business. construction business is about half of what it was six years ago. the culprit, banks that are afraid to lend, excess of homes, no need for new buildings and roads. the federal government doesn't need loans from banks. the federal government can cut immediate checks to get work done. the fe
. governor chris christie, you heard him a little bit earlier. he said in some parts of atlantic city flooding is up to five feet. and also we heard from public safety director william glass who said the entire city of atlantic city is under water. the damage already worse than 1962 on the flooding side there. take a look at this picture from nbc 10's ted greenberg. parts of atlantic city boardwalk broken and floating down the street. that's from earlier this morning. we talked to all the casino operators from there on the boardwalk but still have no comment from them and their operations and how they will continue following this storm. long beach island is a popular vacation spot for wall street. nearly completely flooded right now. the ocean and the bay close to meeting in long beach island. let's also think about when this high tide is expected to hit later today. you can see the wind is picking up and the rain is picking up. we expect this to take place throughout the afternoon, guys. we will have more from cape may as we have it but you can see the storm is definitely ramping up.
they are urging voters to get to the polls. governor christie seems deeply in command the way the federal government has stepped in to help. this is the third hurricane i've covered in my lifetime, andrew, katrina and now this. we are at the point where the population gets furious and they turn on the government. the government can just not handle the huge, huge logistical requirements that happen after a storm like this. could this actually turn on the president at some point here? >> reporter: i don't think so. i think what the president has had the opportunity to do is show americans that he was involved in an effort that the country was rallying behind and do his job in a way that got praise by the keynote speaker at the republican convention, chris christie, very tough critic of the president otherwise. so i don't think many voters are going to blame president obama for what's going on right now, and leave aside the fact that the states in which the difficulties are occurring db new york, new jersey, connecticut are all reliantly democratic states. what is much more important to the
the aftermath in point pleasant, new jersey. governor chris christie calling you the damage unthinkable. the streets remain flooded. debris liters the beach. it could take months to clean it all up. >> look at the sand. >> i know. if you are one of the millions of men who have used androgel 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ. women and children should avoid contact with application sites. discontinue androgel and call your doctor if you see unexpected signs of early puberty in a child, or, signs in a woman which may include changes in body hair or a large increase in acne, possibly due to accidental exposure. men with breast cancer or who have or might have prostate cancer, and women who are, or may
made easier, given a waiver signed by new jersey governor chris christie. additionally, the epa is waving clean gas requirements along the east coast through november 20th so assure adequate supply after sandy. but again, the real problem right now is the lack of power. tyler, back to you. >> i'll toss it down to simon. >> tyler, let's take it back up a step. as you said, the hold-ups are also coming through in the storage facilities, the storage facilities are as important as, of course, we just heard from the pump face there. kate kelly is at a terminal in new jersey for more on that. kate? >> reporter: simon, things are very grim here in new jersey, standing next to an administrative building that was battered in the storm. in the coming days, workers wearing steel-tipped boots will be walking through things like raw sewage, stimber and reeds i order to retrieve company documents. glass is shattered, the refrigerator is floating and they've even seen raccoon tracks inside. this isn't even where they store the all-important fuel. terminals like this one, about 15 to 20 of them
of commerce. ghuf chris christie ordering the vak ace of some 40,000 residents and all local businesses including the 12 flagship casinos. some stubborn locals want to stick it out, but for those, an emergency spokesperson said talk to someone who tried to ride out the storm of 1962 and see if they would do it again. and that storm wasn't even a hurricane. it was nor'easter. and hurricanes actually making direct landfall on the coast of new jersey a very rare occurrence. it's actually only happened three times ever. two unnamed hurricanes in 1978 and 1903 and hurricane irene making landfall as a tropical storm in aufg gust of 2011. when we talk to local business owners, they said the hit from irene was closing down business right ahead of labor day. this time the damages will be much worse. >> business interruption is a huge thing. irene was well over a million dollars because it was labor day weekend evacuation. this is mid week in a softer part of our season, but it will still probably be over a quarter of a million dollars to our properties. we're focusing on just protecting the prop
christie has closed 130 miles of highway. so, new jersey residents here, thousands of them without power, but many glad it's coming earlier than expected, hunkering down and hoping the worse will pass shortly. >> thank you very much. we'll be checking back. >> we're watching that picture very carefully of that high rise that's been under construction for several months in midtown manhattan. eventually going to be 90 stories high. and that crane that sits atop it, you shouldn't see that portion dangling that's sitting parallel to the building itself. that has been a partial collapse of that crane there. our robert frank is on the phone. you've covered that high rise on wealth report. it's been under construction for a while. what can you tell us? >> reporter: as you mentioned, this is a very high-profile building to begin with. 90 stories tall. several of the penthouses have sold for more than $90 million apiece. so, we have several billionaires living in this building. the reason it's already been under scrutiny is there getting some tax breaks for buyers as well as the developer, origin
christie in viewing the storm damage. much of new york and new jersey remains paralyzed with power outages, flooded roads, and debris. governor cuomo said this is the worst storm he's ever seen in new york city. public transportation remains shut down as many subway stations are flooded. mta officials say the damage is the worst they've ever seen in the subway's 108 year history. airports are beginning to open up. jfk will open tomorrow. washington and philadelphia have been partially restored as far as service is concerned today. bill, back to you. >> courtney, thank you very much. so it's all systems go at the new york stock exchange tomorrow. the nyse and nasdaq confirming they will be opened and fully operational come tomorrow. >> on the phone now, sam from s&p capital iq. thanks for joining us. s&p capital iq down the block from the new york stock exchange. what have you been hearing about your offices reopening tomorrow? >> hey, maria. we know the electricity is turned off. just like here in jersey city where there's no electricity, no water, we do as best we can. but we're in commun
is a temporary story, but the way i think christie and other governors and mayors really pitched in suggests that we'll get through this fairly quickly and there will be serious commitments in terms of infrastructure and improvements. and i'll reemphasize your point. chinese purchasing survey was a little improved and you're right, if the purchasing manager survey in the u.s. is a little better as was consumer confidence. >> jack, what do you think, is sandy a big driver for stocks or is it the coming election and the possible outcome? >> i think it's one that you have a lot of underinvested what i call nonbelievers. i think we're entering the period of chasing returns. first of november i think we started since '09 where it's been up. which is indicative of what the next couple of months will bring. having said that, sandy will produce jobs. the question is will sandy produce more jobs than president obama did over the course of the last few years. and as far as the numbers, let's keep this in mind. i'm 5'5". when i'm with my mop and my sisters who are 4'11", i'm a giant. but when i'm aroun
how he stood with governor christie in new jersey. we had a response to a nation in a crisis. >> you think there's class warfare in this country? >> no, i think the best of our country wants to come together to get this economy going again. and that president obama has shown a path that we can trust and that mitt romney is not offering anything but the failed economic policies of the past, which say that the top 1% in this country should not pay their fair share. we reject that vision for america. >> let's not forget the 47% that don't pay any tax, right? >> that's also an inaccurate statement. >> 47% of this country does not pay income tax. that's not an inaccurate statement. at all. that's a fact. >> but they pay sales tax. there's lots of taxes that people pay. >> i'm talking about the federal income tax. >> right. that's right. but how is it that you think we can get this country going again if we don't have more investment like we did in the boom economy after world war ii where the wealthy and corporations were paying a lot more in order to make our country great. i think this
big hit. the place to watch. evacuated yesterday by 4:00 p.m. and chris christie declaring a state of emergency there because of how bad conditions are supposed to get there. it's only 9:00 a.m. right now. you can see how bad it's getting. the waves are spilling up into the dunes and there is flooding in the street. there's structural damage just a couple blocks away that we'll check out. definitely a strengthening storm here on the shore of new jersey. carl? >> kayla, thank you. we'll come back to you a lot today. kayla tausche in cape may. 60 million people affected by this. it's a sixth of the country. >> i want to say that i am not the reason why kayla is down there in harm's way. it is not my fault. >> no one would want to be held responsible for that. >> somehow i'm her father. it's not my daughter. she's not down there. could you check my house in ocean grove where i have already written it off if you're down there. >> reporter: send me the address, jim. i'll walk over there and see how it looks. we're here. we might as well, right. >> i never felt it was such bad idea to ha
about. new jersey governor chris christie lifted a ban on out of state fuel purchases yesterday, that should remove one piece of red tape at least and importantly a large section of line number three of the colonial pipeline which brings jet and auto fuel to the city was restarted around 9:00 p.m. last night, that's a crucial piece because that was causing another chokehold on supplies. still these troubles are likely to persist until a greater percentage of the area's terminals, refineries and pipelines are back in full operation, you guys. yesterday as a 5 million barrel terminal operator in linden told me he was not able to get his marine terminal back in order for another four to six weeks. at the same time he's laboring today with the help of a backup generator to get at least one if not two truck racks open for use by noon, the trucks can resupply their tanks and bring them to gas stations so joe maybe it will come to your neck of the woods within the next week, we hope. >> we got the double whammy because most gas stations don't have power. they have gas. >> that makes yo
, the bipartisan cooperation that he demonstrated with chris christie, trying to make the point that this is when america is at its best. now he's got a better than expected jobs report and he can say america's coming back, home values are rising. we had the most private sector hiring in eight months. all those are elements of the president's argument. of course, mitt romney's argument is going to be is this the best we can do? we can do better. he has already been saying that earlier today, saying the president says this is the best it can be. i say it can't stay this way. there you have the two arguments framed as we go to a final weekend with the polls nationally showing a dead heat and in the swing states a slide advantage for president obama. >> obviously it's all happening, the theater of it is happening in the crucial states. the governor is in wisconsin today. as we can see, the president in ohio. you look at the top of drudge, john, and it's all about the complications of the recovery, the gas lines, the frustration. how much vulnerability does that leave the president even though he may
Search Results 0 to 29 of about 30 (some duplicates have been removed)